Since SHIB’s only function is to be traded for profit, it’s the perfect coin for day traders looking to exploit high volatility ‘meme coins.’ Those who trade on Binance, Gate.io, KuCoin, Huobi, and Poloniex will find it in good supply for trading, especially in pairs with USDT. SHIB has 1 quadrillion tokens, that’s 1,000,000,000,000,000. The purpose of having such a large supply was so that investors could hold millions or billions of tokens without having to spend a large amount of money. A million SHIB tokens will only cost investors a few dollars. This same faculty of SHIB makes it highly volatile, as it’s easy for whales to pump and dump the price if they manipulate the supply and demand.
What is SHIBA INU (SHIB)
Shiba Inu, abbreviated to SHIB in the cryptocurrency world, is a decentralized cryptocurrency created by an anonymous entity known as Ryoshi. SHIB is an ERC-20 token running on the Ethereum network. It offers no technological value or smart contract utility. Shiba Inu is also a Japanese dog breed, the same one featured in the DOGE logo and featured heavily in memes.
Best SHIB Exchanges in the United States
Step 1: To buy SHIBU INU, investors must first own Bitcoin or Ethereum. Our highest-rated SHIB exchange (Gate) does not offer fiat deposits, so we recommend the Gemini Exchange for US customers who need to purchase BTC or Eth.
Gemini is owned by the Winklevoss twins and is highly secure & trustworthy. We think they’re a better version of Coinbase.
Step 2: Once you own Bitcoin or Ethereum, transfer those coins to one of the following exchanges to buy SHIB.
- Huobi Global
The list above is our highest-rated exchanges that accept US customers and offer SHIBA INU. For SHIB, Gate gets the highest rankings. They provide more than 180 coins, 450+ trading pairs, and investors from the United States (minus Washington State and New York).
Where Can I Buy Shiba Inu? Exchanges for International Investors
How SHIBA INU works
SHIB offers no smart contract utility and is not backed by any assets or the like. It is just a transferable token, like DOGE. Its value is perceived based on the actions of the market.
The SHIB coin was first listed on its native decentralized exchange, ShibaSwap, before its popularity surged. It was picked up and listed on the top exchanges. 50% of the total supply was locked on Uniswap before it was listed elsewhere.
The Shiba Inu project also offers an artist incubator, providing a place for the best artists in the NFT community to build their audience and develop their skills. Speakers from different genres are invited to talk to and help the Shiba Inu artists explore the NFT movement and market. The first round of the artist incubator welcomed 75 skilled creatives.
History of SHIBA INU
Shiba Inu (SHIB) was created in August 2020 by Ryoshi, an anonymous, decentralized network researcher (or research team, it’s unknown). It also created $LEASH and is working on another project called BONE. The SHIB coin was modeled on Dogecoin (DOGE) and is a fork designed to improve upon the original code and be known as the ‘Dogecoin Killer.’
SHIBA INU’s team released a Whitepaper which they called a ‘WoofPaper,’ with three reasons for creating the coin:
- “We started from zero, with zero.”
- “The brilliant minds behind Shib had never collaborated before.”
- “We love Shiba Inu Dogs.”
In May 2021, Vitalik Buterin, the Founder of Ethereum, donated 50 trillion SHIB tokens through an organized burn to the India COVID-Crypto Relief Fund. At the time, this was worth $1.2bn. However, the price dropped considerably when the news was released (as much as 44%), with traders considering this donation akin to a massive coin dump. Buterin had been given 50% of the project’s tokens by the developers, who had not foreseen him donating them, and so had to navigate this obstacle in their journey cleverly.